EOS Blockchain Operating System Unveils Year-Long Token Distribution

EOS, the first blockchain operating system designed to support commercial decentralized applications, today announced further details for its digital token distribution to open on Monday, June 26. EOS’s token distribution follows a groundbreaking participation model that will take place over the course of one year creating the fairest token distribution project launched on Ethereum to date.

“To ensure inclusivity, EOS are not sold for a fixed price, but sold at a price determined by market demand; this mimics mining, but does not offer unfair advantages to large purchasers,” said Brendan Blumer, CEO of block.one, the open source software and blockchain company developing EOS.

block.one will distribute one billion EOS ERC-20 compatible tokens, called “EOS Tokens” over 341 days starting on June 26, 2017 at 13:00 UTC following the below schedule:

20 percent of EOS Tokens (200,000,000) will be distributed during the first 5 days of book opening.

70 percent of EOS Tokens (700,000,000) will then be split evenly into 350 consecutive 23 hour periods of 2,000,000 EOS tokens each starting July 1, 2017.

10 percent of EOS Tokens (100,000,000) will be reserved for block.one and cannot be traded or transferred on the Ethereum network.

EOS is being designed to scale mainstream development for large enterprises, currently unsupported by existing blockchain platforms. EOS introduces asynchronous communication and parallel processing to support millions of transactions per second, higher than that of Facebook and Google at 52 and 40 thousand per second, respectively.

EOS is being designed to support distributed applications that have the same look and feel of their centralized counterparts, including eliminating the requirement for the user to pay for every transaction. This enables new blockchain users to get involved without having to navigate the complex process of purchasing a cryptocurrency and should help to spur the industry. It also means any type of application can be built, run, and governed by EOS’s operating system, creating a new level of transparency for business.

The expansive EOS team is being led by blockchain veterans:

Brendan Blumer, CEO: Involved in the blockchain industry since 2014, Brendan is a serial entrepreneur who has built businesses including trading of virtual currencies in MMORPGs in the US, okay.com in Hong Kong and 1Group in India.

Daniel Larimer, CTO: A serial entrepreneur focusing on innovative technologies ranging from virtual reality simulators to second-generation crypto currencies, most notably BitShares. Dan is a specialist in software development and the inventor of the widely adopted “Proof of Stake” and “Decentralized Autonomous Corporations” concepts.

Brock Pierce, Partner: A venture capitalist and entrepreneur who pioneered the market for digital currency in games and has raised more than $200 million for companies he founded. Brock is the Chairman of the Bitcoin Foundation, and co-founder of Blockchain Capital, among others.

Ian Grigg, Partner: A financial cryptographer who has been building cryptographic ledger platforms for over 20 years, Ian is the inventor of the Ricardian Contract and the co-inventor of Triple-Entry Accounting.

Full details of the token distribution are disclosed in the terms and conditions, at eos.io.

block.one is a developer of technology solutions including blockchain software development. With employees and advisors based around the world, including in Asia and the U.S., the company focuses on business-grade technology solutions, including EOS. For more information visit block.one and eos.io.

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.

A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.

In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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